Stem looks a lot like the early GB spearpoint stems from the uk.Maybe it was a fill in until these were finally received from the supplier? This is the first I've seen one of those. It is a nice looking piece.
1969 Schwinn Sky Blue Collegiate | Lightweight Schwinn BicyclesHere is a 1969 Schwinn Collegiate I acquired about three years ago off of ebay. At first, I thought it was priced a bit high for the model and year, but after close study of the pictures provided with the auction, I decided to purchase it. When I received it, I was surprised to find an all...thecabe.com
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69 Collegiate on Rat Rods.
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Would not be surprised if there is a connection there somewhere